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Read moreUpdate: Fleet Technology Trends Report 2021 is live and available for download.
If there is one business lesson to take from 2020, it's the importance of preparedness, connectivity and resilience—and fleets across industries have had to navigate uncertainty and swiftly adapt to new ways of operating this year. According to the 2021 Fleet Technology Trends Report, 32% of GPS tracking users reported a positive ROI in less than 6 months.
Continue reading for fleet facts from 2020 Fleet Technology Trends Report.
The 2020 Fleet Tracking Trends Report revealed that ‘ease of use’ was the most important factor for fleet professionals when deciding on a fleet tracking solution. This report is based on a survey conducted by Verizon Connect in collaboration with Bobit Business Media, the publisher of leading trade publications like Automotive Fleet, Heavy Duty Trucking and Government Fleet. 1,200 U.S. fleet managers, executives and mobile workers ranked their preferences and priorities when making the all-important decision of investing in GPS tracking solution.
Each business is unique, and so are its technology needs and expectations. We asked fleet professionals to rate the factors that most inform their choice of fleet management technology, ranking each factor on a scale from 1 (not important at all) to 5 (extremely important).
Eight factors emerged as top considerations: upfront cost, monthly fees, service coverage, size of provider/company, software features, customer service, return on investment (ROI) and ease of use. Let's look at how each factor stacked up:
#1: Ease of use – Overwhelmingly, fleet professionals selected ease of use as what matters most in weighing GPS fleet tracking provider options. When it comes to utilizing the right technology, fleet managers and drivers don’t have time in their day for a solution that is difficult to use: they need the right functionality, right at their fingertips. A majority (89%) of respondents assigned ease of use a marked degree of importance when it comes to choosing the right provider.
#2: Service coverage – This was the second most important factor, and rightfully so. Fleets are inherently mobile, and technology that can support anytime, virtually anywhere service coverage is crucial to providing the highest level of service while also streamlining operations. For commercial vehicles traveling to remote locations, a GPS tracking solution that can work in both rural and urban areas is critical to business success. That’s why 83% of fleet professionals rated service coverage as an important criterion in deciding on a technology provider.
#3: Customer service – Like service coverage, 83% percent of survey respondents found customer service to be a highly important purchase factor. From streamlined implementation to getting the most from a solution in the long-term, great customer service from a provider is critical. Additionally, service-driven organizations must always also be empowered to connect with internal staff and customers. This means that vendor service and support is equally important; having a representative available at all times to address problems and answer questions is key.
#4: Monthly fees – Streamlining expenses is crucial for fleets, and any technology investment must help drive ROI and decrease unnecessary expenditures. As costs continue to rise for many companies, keeping monthly operating costs as low as possible is a critical consideration. That’s why monthly fees came in as the third most important factor influencing choice of GPS fleet tracking provider, with 80% of fleet professionals saying this cost-conscious point is of great importance.
#5: Software features – Technology that integrates with existing fleet software and provides compatibility with an array of digital tools—as well as offers a variety of software capabilities—enables fleets to invest in one solution for all their needs versus making multiple investments. Tying for fourth place in order of importance is software features. 71% of respondents felt this consideration should hold a place of considerable importance when it comes to choosing a fleet tracking solution.
#6 Return on investment – Built-in, intelligent integrated software helps to improve the standard of operations across any fleet. But modern companies must also consider how long it will take a technology investment to contribute a positive return. With slim margins and tight budgets, fleet professionals want to get their money’s worth from any technology purchase. That’s why 71% ranked return on investment as important when vetting fleet tracking providers and solutions.
#7: Upfront cost – Budgets are tight. Expenditures are escalating. All fleet professionals, regardless of company size or industry, need to save money. So, it stands to reason that upfront cost would be a top consideration impacting which GPS fleet tracking solution an organization ultimately chooses. 69% of respondents noted its critical importance.
#8: Provider size – A fleet-wide technology investment is a significant one. Companies want to make that investment with a stable, dependable solution provider with the capability to support large, complex businesses and provide ongoing technology support. While not one of the top factors by far—only 25% indicated it as important—the size of a fleet tracking provider’s company still does impact fleet professionals’ final technology decision.
Ease of use is arguably one of the most important features of any GPS fleet tracking solution. Verizon Connect topped in six categories on G2 Crowd’s Fall 2019 report, one of which was ease of use. Reviewers on G2 Crowd, which is a trusted review platform, found Verizon Connect’s solution easy to use.
Given that ease of use is a top factor influencing the decision-making process for a fleet management provider, let’s examine the key features that simplify fleet tracking technology for the end user.
To learn more about how your peers view and value GPS fleet tracking technology, download the full Fleet Tracking Trends Report.
Tags: Data & Analytics
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